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Change of Opinion not Grounds for Income Escaping Assessment: Bombay HC

January 22, 2024 711 Views 0 comment Print

Explore Geopreneur Realty Private Limited vs Union of India in Bombay High Court. Analysis of the notice under Section 148, reasons for reopening, and the court’s stance on change of opinion in income tax assessments.

ITAT Remands Cash Deposit Case During Demonetization by Bar & Restaurant Manager to CIT (A) for Reconsideration

January 22, 2024 498 Views 0 comment Print

Explore ITAT Bangalore’s order in Radhakrishna vs ITO. Cash deposits during demonetization deemed business receipts for bar and restaurant. ITAT remands for reconsideration.

Failure to Produce Loan Transaction & Share Pledge/purchase Documents: ITAT Directs Re-adjudication

January 22, 2024 210 Views 0 comment Print

Failure to produce loan transaction and shares documentation: ITAT Mumbai orders re-examination. Explore the details of Fortune Credit Capital Ltd vs DCIT case.

TDS under Section 194C Applicable to CAM Charges Distinct from Rent: ITAT Delhi

January 22, 2024 3114 Views 0 comment Print

ITAT Delhi decision on TDS under section 194C for CAM charges. Explore Liberty Retail Revolutions Ltd. vs ACIT case details, analysis, and conclusion.

Kerala HC sets aside assessment order, citing violation of natural justice

January 22, 2024 801 Views 0 comment Print

Kerala High Court sets aside assessment order in Biju Paul vs ACIT, citing violation of natural justice. Learn about the case and its implications.

Inadequate Enquiry Alone does Not Warrant Invoking Section 263 of Income Tax Act

January 21, 2024 507 Views 0 comment Print

Delhi High Court rules in PCIT vs Mohak Real Estate Pvt Ltd case that inadequate enquiry alone doesn’t warrant invoking Section 263 of Income Tax Act.

Claim on Goods not in Possession of Port Authority Not Secured Creditor under IBC: NCLAT

January 21, 2024 210 Views 0 comment Print

Explore the NCLAT Chennai judgment on V O Chidambaranar Port Authority vs Rajesh Chillale. Learn why a port’s claim without possession can’t be a secured creditor under IBC.

India-Korea DTAA Article 15(1): Korean Resident’s Salary for Services Outside India Not Taxable  

January 21, 2024 741 Views 0 comment Print

ITAT Delhi rules in Amit Laroya vs ACIT case, stating salary of a Korean resident for services outside India is not taxable in India under Article 15(1) of India-Korea DTAA.

ITAT Mumbai quashes Reassessment Due to Lack of Mind Application

January 21, 2024 2883 Views 0 comment Print

Explore the ITAT Mumbai order in Ankur Power Projects vs ITO. Learn why reassessment proceedings were quashed due to non-application of mind by the AO. Full text available.

ITAT Directs Reassessment of Interest for Non-Performing Assets Loans

January 21, 2024 378 Views 0 comment Print

Explore the ITAT Bangalore order in Belur Urban Co-operative Bank vs ITO. Learn why reassessment on interest in NPA loans is directed for readjudication. Full text available.

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